In December 2009, diplomats from around the world will convene in Copenhagen, Denmark to decide on a new international agreement on climate change. The following questions and answers address the agreements and structures that form the basis of the Copenhagen climate change negotiations.

When implemented properly, an early action
component of a cap-and-trade program can reward
early actors while preserving or enhancing the
environmental outcomes of the cap-and-trade
program. If designed and implemented poorly,
however, early action credits can infl...